Home, as we all know, is where the heart is. It’s just that these days, the heart can be transplanted to any number of destinations all over the world.

Modern technology means we can set up house in the remotest spots, yet remain plugged into our professional and family networks. And you can pick up The Archers or Desert Island Discs as clearly in Tbilisi as you can in Torquay.

In short, it puts a whole new complexion on the notion of living abroad, and, in our continued search for expat excellence, we are renewing our invitation to Telegraph readers to send us suggestions of The World’s Best Places To Live. Do so and you could end up with a free Italian holiday in our prize draw. This week we are relaunching the competition, with the support of Sotheby’s International Realty.

“In 2010, we had 600 nominations, and the winners went on all-expenses-paid trips to places such as Barcelona and Indonesia,” says James Flint, Editor ofThe Telegraph Weekly World Edition. “All the competition entries fed into our online Expat Directory, which makes use of the local knowledge that our readers can provide. This has become a hugely helpful resource for anyone wanting to live overseas.”

There’s no shortage of people who want to do just that, it seems. The economic downturn may be a worldwide phenomenon, but more and more Brits feel the winds of recession blow less chill in a temperate climate.

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“The notion that life is better in a warm country has gained ground over recent months, no doubt about it,” says Charles Weston-Baker, head of the international division atSavills estate agents.

“The snowbird effect has really started to take off, too. We’ve noticed a big increase in the number of people, many in their 50s and 60s, who are coming to us wanting to buy land. It’s hard to find any to buy in this country, so they’re starting to look seriously in France. These are urban people, looking for a chance to enjoy a more green-fingered lifestyle.”

Europe is proving a good place to look, at the moment, according to figures just released by international estate agents Knight Frank. For whereas house prices in the Asia-Pacific region went up 9.9 per cent in the third quarter of 2010, the figure in Europe was a mere 0.8 per cent.

What this means, of course, is that in some European countries there are plenty of cheap deals to be done.

The price of houses in Ireland, for example, is on a downward spiral, with an average national decrease of 14.8 per cent over the past year.

That said, no one is expecting to get rich quick like they could five years ago, when an overseas property was seen not as a place to put down roots, but a temporary investment vehicle. Back then, there was a sunny, pre-credit-crunch belief that if you bought a one-bedroom cubicle with a sea view, people would obligingly line up to pay for a holiday in it.

“Over the past couple of years, more and more people are finding they have to move to where the work is, rather than waiting for it to come to them”, says Charlie Smith, managing director of Sotheby’s International Realty, which is sponsoring this year’s The World’s Best Places To Live competition. “As a result, the residential property market has become much more genuinely international than it ever used to be, especially in cities. It’s now quite normal for us to sell a property in London to, say, a French buyer, on behalf of a Lebanese vendor, only that Lebanese vendor won’t be going back home to the Middle East, but moving on to live and work in the US, because a business opportunity has come up.

“These days, too, the situation is changing all the time. Take Bermuda, for example; it used to be known just for tourism and yachting, but it’s now become the centre of the world reinsurance industry,” says Smith.

Nevertheless, the advice to all globe-trotting businessfolk looking to buy a place abroad is that they should always keep a property toehold in their home country, however small, just in case something goes wrong. Indeed, advice is available in the free booklet from the Association of International Property Professionals (AIPP), How To Buy Overseas Property Safely.

“It is important to ensure that you hire a fully qualified lawyer, and not just a notary,” says Mark Sharp, AIPP’s chief executive. “Depending on which you use, there is a big difference in terms of how binding legal agreements are.”

And if your French or Spanish isn’t up to establishing the difference, Sharp’s advice is to employ an AIPP agent who knows the country concerned. “They’re all vetted and trained, and any disputes that arise can always be referred to us,” he says.

In the past agents used to disappear when the sale was done, leaving buyers to deal with local removals men or gas board officials. Today, however, after-sales service goes a lot further.

“In many cases, clients who have bought property in one location will be moving to another in four to five years’ time and wanting to buy again,” says Charlie Smith. “It only stands to reason that if you’ve provided post-sales support that goes beyond the call of duty, that buyer is more likely to use you again. And as we have 570 offices in 44 different countries, we’ve got a good chance of picking that business up.”

And just as buying a place abroad is less unusual, so too you’ll find it a lot less hard work once you’re there.

“Time was, if your company posted you to somewhere like Abu Dhabi or Hong Kong, they would offer you a hardship allowance,” says Charlie Smith. “Today, that’s unheard of in all but a few countries.

“We all know the world has got smaller when it comes to travel,” adds Smith. “The same is now true in terms of property, too.”

HOW TO ENTER

Let us know where you think is the best place to live in the world, and you could win a fabulous holiday. We’re offering one lucky reader a free week’s accommodation for two people at the five-star boutique hotel Albergo Villa Casanova, near Lucca, in Italy.

As well as bed and breakfast for the week, there is a complimentary dinner with wine on the first night, plus two return flights to Pisa from anywhere in the world, courtesy of British Airways(up to a total value of £2,000; connections via a UK airport may be required).

To enter, simply tell us your perfect location by adding a pin to our World’s Best Places To Live map by April 30, 2011 (you'll be asked to register your details when you add a pin for the first time).

Whether it’s a particular street in Paris, a houseboat in Hanoi, an ancient thatched cottage in Somerset or a modern condominium block in Miami, you can be as specific or general as you like, you can send us as many locations as you want, and you can comment on other people’s choices, too. Further details of the prizes and the terms and conditions can also be foundhere.